Suppose That Population Grows by 2 Percent Annually

Multiple Choice

Suppose that population grows by 2 percent annually.For the standard of living to rise,which of the following must occur?

A) Nominal GDP must grow by more than 2 percent.
B) Real GDP must grow by more than 2 percent.
C) Real GDP per capita must grow by more than 2 percent.
D) Consumption spending must grow by more than 2 percent.
E) Private investment spending must grow by more than 2 percent.